Rental Bond Loans VIC

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Borrow $3,000 to $25,000
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Same-Day Approval2
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25-48 month terms

Check If You Qualify

With no impact on your credit score!

Check If You Qualify with no impact on your credit score!

*Subject to lending criteria, T's and C's'

*Subject to lending criteria, T's and C's'

Decorative graphic of a Coin
Borrow $3,000 to $25,000
Decorative graphic of a clock
Same-Day Approval2
Decorative graphic of a calendar
25-48 month terms

Award-winning lender

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What is a Rental Bond Loan?

A rental bond is a form of security deposit paid at the start of a tenancy agreement by renters to either the property manager or the landlord. These bonds can be worth thousands of dollars for most available rentals and can leave a serious dent in your bank account if you pay for them upfront. That's where a Rental Bond Loan comes in.

A Rental Bond Loan with Jacaranda Finance can allow you to pay that deposit quickly without dipping into your hard-earned savings. Instead, you can repay that loan over manageable instalments up to 48 months.

Why get a Rental Bond Loan with Jacaranda?

Jacaranda Finance makes applying for a personal loan to cover rental bonds and moving expenses simple with our fast, 100% online application. Our loans range from $3,000 all the way up to $25,000.

See below for details on how applying for our Rental Bond Loans is quick and easy, or apply here if you're ready to get started.

Loan Details
Loan Amounts:

$3,000 to $25,000

Loan Terms:

25 months to 48 months

Loan Type:
Show the About Security modal

Secured and unsecured

Rate type:

Fixed

Repayment Options:

Weekly, fortnightly or monthly

No Early Payout or Exit Fees:

Customers who pay their loan out early do not incur any additional fees or charges for doing so. Fixed fees that have already been incurred are due and payable.

THE APPLICATION PROCESS

We Make Applying Easy

We know how important it is to receive your funds in a timely manner. As a hard-working Australian, you don’t have time to waste on needless paperwork.

That’s why our loan application process has been perfected over time to be as simple and quick as possible.

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Average rent in Victoria

Known for its bustling lifestyle and delicious coffee, it's no wonder many people choose to settle down in Victoria's capital Melbourne. According to the Domain Rental Report for September 2022, renting in Melbourne is surprisingly not too expensive:

  • The median house rent is $470 per week (a 9.3% annual increase)
  • The median unit rent is $425 per week (a 14.9% annual increase)

Though Melbourne is still the most affordable capital city to rent a house with the value gap widening from the other capital cities, rent is still quite expensive, making rental bonds quite expensive too.

How much is a rental bond in Victoria?

In most cases, a rental bond in Victoria cannot be more than one month's rent. In other cases, a rental provider can ask for a higher bond amount when either the weekly rent for the property is more than $900 or the Victorian Civil and Administrative Tribunal (VCAT) sets a higher bond. The latter could be pursued due to the character of the property or the quality of fittings and furniture.

To give an idea of how much this could cost, we'll use the median house rent for Melbourne of $470 mentioned above and calculate the bond. One month's rent would be $1,880: some property managers or landlords also ask for two weeks' rent in advance for extra security on top of the bond.

This would amount to $2,820 in total - quite a hefty lump sum even when splitting between two or more tenants.

To alleviate some of the pressures of moving, consider applying for a rental bond loan with Jacaranda Finance. Our loans range from $3,000 all the way up to $25,000, which could be more than enough for you to pay your bond, moving costs and anything in between to get settled.

Cash Loans Melbourne.

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Rental bonds in VIC: What you need to know

Are you a renter in Victoria and unsure about how the bond process works? We've compiled some key pieces of information that may answer your questions.

Refer to the resources tab at the end for official sources of information when it comes to paying a rental bond in Victoria.

In Victoria, only the rental provider, property manager or landlord can lodge a bond on behalf of the tenant. A tenant is required to send the bond to the appropriate party, who will then lodge the bond through the Residential Tenancies Bond Authority (RTBA). The tenants will then be notified of the transaction.

The bond will be held at the RTBA for the entirety of the rental agreement. When the tenancy has ended, the bond will be transferred back to the tenants, unless for any reason the bond is claimed by the rental provider.

Rental bonds are refunded to the tenants unless the rental provider makes a claim for compensation. These reasons include:

  • If the renter has damaged the property
  • If the renter owes the rental provider for rent or charges
  • If the renter has not left the property reasonably clean
  • If the renter made certain changes to the property without asking.

Rental providers cannot claim bonds for fair wear and tear, and can only start the claim once everyone has agreed on how the bond should be divided. They must start claims within 10 business days of the rental agreement ending.

If a landlord and renter cannot agree on how to split the bond, either the renter or rental provider can apply to VCAT for a hearing. VCAT will hear the case and make a decision on how to divide the bond.

Rental providers may also apply to VCAT to claim compensation that is more than the bond amount. A fee will apply for this kind of application.

A rental provider, property manager or agent will do a final inspection at the end of the rental agreement. The condition report should be used to compare any changes to the property during the agreement.

If everything is in order, the bond claim can be started. Bond claims can be started by either the rental provider or the renter. Usually, the rental provider or agent starts the claim. The bond will usually be paid out within one business day when the rental provider uses RTBA Online.

The go-to governing bodies for renting in Australia are Consumer Affairs Victoria and Residential Tenancies Bond Authority.

Tenants Victoria is a union for Victorian tenants and a resourceful website with information about housing, rental laws and tenancies in general.

Rental Bond Loan Rates & Fees

Interest Rate
Comparison Rate
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Loan Term
Repayment Cycle
Secured or Unsecured
Show the What does it mean? modal
Establishment Fees
Show the What does it mean? modal
Monthly Fees
Show the What does it mean? modal
Risk Fee
Show the What does it mean? modal
Comparison Rate Warning*
  • Unsecured
    Personal Loan
    $3,000 - $15,000
    Interest Rate
    17.95% to 27.95%
    Comparison Rate
    Show the About Comparison Rate modal
    32.40% to 42.80%
    Loan Term
    25 - 36 months
    Repayment Cycle
    Weekly, fortnightly or monthly
    Secured or Unsecured
    Show the About Security modal
    Unsecured
    Establishment Fees
    Show the About Establishment Fees modal
    $130 to $990
    Monthly Fees
    Show the About Monthly Fees modal
    $24 p/month
    Risk Fee
    Show the About Risk Fee modal
    $0 to $995
    Comparison Rate Warning*
    Comparison Rate Warning: the comparison rate is based on $10,000 over 36 months. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.
  • Secured
    Personal Loan
    $3,000 - $25,000
    Interest Rate
    14.95% to 27.95%
    Comparison Rate
    Show the About Comparison Rate modal
    29.30% to 42.80%
    Loan Term
    25 - 48 months
    Repayment Cycle
    Weekly, fortnightly or monthly
    Secured or Unsecured
    Show the About Security modal
    Secured
    Establishment Fees
    Show the About Establishment Fees modal
    $130 to $990
    Monthly Fees
    Show the About Monthly Fees modal
    $24 p/month
    Risk Fee
    Show the About Risk Fee modal
    $0 to $995
    Comparison Rate Warning*
    Comparison Rate Warning: the comparison rate is based on $10,000 over 36 months. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.
This is not an offer for credit. The amount you can borrow as well as the offer you receive may vary once you complete an application and all relevant details are captured and verified. Fees, credit criteria and terms and conditions apply. Example tables and calculators are illustrative only and are not intended to be your sole source of information when making a financial decision. Consider whether to get advice from a licensed financial adviser.
Interest Rate Comparison Rate
Loan Term Secured or Unsecured
Monthly Fees Repayment Cycle
Establishment Fees Risk Fee
  • Unsecured
    Personal Loan
    $3,000 - $15,000
    Interest Rate
    17.95% to 27.95%
    17.95% to 27.95%
    Comparison Rate
    32.40% to 42.80%
    32.40% to 42.80%
    Loan Term
    25 - 36 months
    25 - 36 months
    Secured or Unsecured
    Unsecured
    Unsecured
    Monthly Fees
    $24 p/month
    $24 p/month
    Repayment Cycle
    Weekly, fortnightly or monthly
    Weekly, fortnightly or monthly
    Establishment Fees
    $130 to $990
    $130 to $990
    Risk Fee
    $0 to $995
    $0 to $995
    Comparison Rate Warning* Comparison Rate Warning: the comparison rate is based on $10,000 over 36 months. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.
  • Secured
    Personal Loan
    $3,000 - $25,000
    Interest Rate
    14.95% to 27.95%
    14.95% to 27.95%
    Comparison Rate
    29.30% to 42.80%
    29.30% to 42.80%
    Loan Term
    25 - 48 months
    25 - 48 months
    Secured or Unsecured
    Secured
    Secured
    Monthly Fees
    $24 p/month
    $24 p/month
    Repayment Cycle
    Weekly, fortnightly or monthly
    Weekly, fortnightly or monthly
    Establishment Fees
    $130 to $990
    $130 to $990
    Risk Fee
    $0 to $995
    $0 to $995
    Comparison Rate Warning*
    (Personal Loans)
    Comparison Rate Warning: the comparison rate is based on $10,000 over 36 months. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.
    Comparison Rate Warning* Comparison Rate Warning: the comparison rate is based on $10,000 over 36 months. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.

Personal Loans Online Up To $25,000

Money in your bank account and ready to use in 60-seconds3 once approved.

Most customers have a New Payments Platform (NPP) bank account and receive the money in their bank account within 60 seconds. For other customers, the money will be available overnight on weekdays and overnight the following business day if approved on a weekend or public holiday.

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VIC Rental Bond Loan FAQs

Need more information? Here are the answers to some of our most frequently asked questions about Rental Bond Loans in Victoria.

You can apply for varying loan amounts with Jacaranda, depending on your needs. With our Express Personal Loan, you can borrow between $3,000 and $25,000. 

For detailed information about who our products are designed for, please review our Target Market Determinations.

Use our loan repayment estimate calculator to get a guide on what your repayments could be. To get an idea of what rates, fees and charges are associated with our loans, visit our rates and fees page.

Our loan application process has been designed to be as simple and quick as possible, as we know how important it is to receive your funds in a timely manner. How quickly you can apply for a personal loan and receive your funds will depend on your situation.

Applying for a loan with Jacaranda Finance takes most people 5-12 minutes1, but it could take longer depending on a number of factors such as but not limited to how fast you are at typing or if you have all the required information on hand.

After applying, most customers get an outcome on their loan application on the same day during normal business hours once we have received all of the supporting information we require. We do not guarantee same-day outcomes for all customers.2

Once an applicant has been approved and they have signed a contract, we automatically attempt to release the money to the applicant's bank account. Most customers have a New Payments Platform (NPP) bank account and receive the money in their bank account within 60 seconds. For other customers, the money will be available overnight on weekdays and overnight the following business day if approved on a weekend or public holiday.3

We use the information you provide in the online application form as well as information on your bank statements to make sure that you qualify for a loan product during our credit assessment. If you don't qualify, your application will be declined without a credit check being conducted.

Once we have verified that you meet our non-credit report-related criteria, we do perform a credit check as part of our credit assessment, where an inquiry will be left on your credit file.

We will never perform a credit check without your express consent, which you provide to us when you apply for a loan with Jacaranda Finance. We store your acknowledgement and consent for seven years, and it can be supplied on demand.

There are four credit reporting bodies that we may use to conduct a credit check:

  • Equifax
  • Experian
  • illion
  • Talefin

Review our Privacy Policy for more information.

The basic eligibility criteria you must meet before submitting an application:
  • Be at least 19 years of age.
  • Be employed on a permanent or casual basis.
  • Have a consistent income going into your own bank account for the last 90 days.
  • Be in control of your finances and be handling existing financial commitments comfortably.
  • Be an Australian citizen or permanent resident with a fixed address.
  • Have an active email address, phone number, and online banking account in your name that belongs to you.

We accept a wider range of credit history than a bank or a prime lender, but we do not recommend submitting an application if:

  • You are currently or recently bankrupt (you must be three years discharged and in control of your finances)
  • You are not comfortably repaying your existing financial obligations